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20121205
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CNNW 6
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CNN
Dec 12, 2012 2:00am PST
. christine romans is talking markets. >> and you can thank big ben bernanke, the fed chief. a lot of people saying that the federal reserve and its herculean efforts to keep the economy moving is why stocks are up, why the economy is growing, and they're expecting the fed to announce new measures, new st stimulus to keep it going. so when you hear the catch phrase that the fed is the only game in town, the fed is the only game in town. around the world it has been central banks who are independent from governments, central banks who have been doing so much, pumping money into the system to keep things going. s&p 500 up 13% so far this year. all of these uncertainties we talked about, the fiscal cliff, all of that stuff, it is because of the certainty of fed policy many people are telling me, also because they think on wall street the fiscal cliff will be avoided. they think on wall street the only thing left to do is a little bit of shouting over what the top rate will be. 36%, 37%. they think corporate taxes will come down and we know that that is in the latest sort of proposal from the wh
CNN
Dec 12, 2012 4:00pm PST
the u.s. lost its top credit rating. what are we doing to get it back? well, fed chair ben bernanke warns that we're already paying the price for teetering on the edge of this fiscal cliff and he points to a recent drop in consumer and business confidence and says he hopes that congress will do the right thing and not kick the can down the road. >>> so that brings us to our fourth story, outfront. deal, no deal? deal, no deal? it is not a howie mandell story. it has everything to do about the fiscal cliff. and it's happening behind closed doors. and what is said in public does not seem to clear anything up. >> the longer the white house slow walks this discussion, the closer our economy gets to the fiscal cliff, and the more american jobs are placed in jeopardy. >> so what's really going on behind the scenes? earlier i spoke with republican senator jeff sessions, who's been asking the same question, and i asked him how much he, as the ranking member of the senate budget committee, actually knows about what's going on. >> very little. almost nothing, frankly. i mean, i learned from s
CNN
Dec 10, 2012 2:00am PST
. and also you have this concern happening in japan. we have this week, ben bernanke and the fed will meet at a two-day fed meeting. a lot of people are hoping to hear from the federal reserve chief that there will be some kind of on going stimulus in the form of, you know, bond buybacks or something. we'll be looking to see what he has to say about the economy. this is another big uncertainty in the markets for the week. you know, this comes after consumer spending showing as "the wall street journal" set this morning, consumer spending, consumer confidence wabbling. this is europe concerns. we're seeing that consumer heading into the end of the year is starting to get a little more nervous about where we're headed here. now fiscal cliffs and payroll, fiscal cliff has a lot to do with this. the american payroll association this is the trade group for all of the small business who's are doing payrolls, you know, paying you. they say the fiscal cliff really isn't january 1st. their fiscal cliff is december 14th. that's the time they need to have the software changed to make sure the tax cha
CNN
Dec 12, 2012 11:00am PST
reserve chairman ben bernanke says u.s. unemployment, a huge problem, huge waste of potential -- human potential, he said. bernanke says the fed will replace operation twist with a new $45 billion asset buying program. overall, the fed is committing to buy $85 billion worth of securities a month. the program seeks to keep downward pressure on interest rates to spur the economy. >>> now back to the fiscal cliff. 20 days, count them with me, 20 days out from higher taxes and punishing government spending cuts if there is no deal in washington to craft a softer landing. with me now from los angeles, economist, author, ben stein. ben stein, good to see you, sir. you know, look, despite all we're hearing and seeing out of washington, we can at least discern some movement on this issue of taxes. let me just take you back, house speaker john boehner, his first position was no new taxes. president obama was asking for new taxes totalling $1.6 trillion. after the election speaker of the house ponied up an offer of $800 billion, exactly halfway between his zero and the president's $1.6 trillion.
CNN
Dec 12, 2012 1:00pm PST
. speaking of the fiscal cliff, jessica, what did the fed chairman ben bernanke say about these current negotiations? >> well, bernanke is the man credited with coining the term fiscal cliff. he did it back in february as part of testimony before congress. bernanke was speaking at a press conference today and he was asked two things. one, does he see impacts from the fiscal cliff, the lack of a deal, is it already rippling through the economy in? he said, yes. that's why you're seeing a fall in consumer confidence and less business activity and he said that it's impair tea that the congress comes to a deal with the white house and he was asked, do you think that term is correct a. fiscal cliff? is it a slope, maybe? he said, no, it's a fiscal can cliff because the economy will hit a brick wall if there is not a deal in january. he says it is not hype. >> he's basically saying if we go over the fiscal cliff, if these lawmakers and white house doesn't make a deal, it could lead to a recession? >> that >> reporter: that's right. we could hit another recession if we go over the fiscal cliff
CNN
Dec 12, 2012 4:00am PST
again today. the federal reserve expected to announce more economic stimulus today. fed chief ben bernanke speaks at 2:15 eastern. the s & p 500 up more than 13% so far this year, and now up since the election. >>> bank of america, merrill lynch predicts oil prices in this country will drop to $50 per barrel. the cause? difficulty in moving huge amounts of oil from the bakan oil fields in south dakota and in texas. they don't predict a corresponding drop in gas prices. world oil prices will stay high, and our gas prices will likely track that. >>> americans are upbeat about the economy. 43% of americans say they are optimistic about 2013 and believe the economy is rebounding, nearly twice as many as last year. >> can i ask? the other day, we were talking about the fiscal cliff. and you tell us it will be really, really bad. why does the market keep going up? >> everyone thinks they will fix it. in the market, the question, what will the top rate be for the highest earners. 37%? the market says there will be a deal and lower corporate tax rates. if there isn't a deal, after the fir
Search Results 0 to 5 of about 6